Ciena Corporation (NYSE:CIEN) – Equities researchers at Jefferies Group increased their FY2017 earnings estimates for shares of Ciena in a research note issued on Monday. Jefferies Group analyst G. Notter now anticipates that the communications equipment provider will earn $1.49 per share for the year, up from their prior forecast of $1.47. Jefferies Group also issued estimates for Ciena’s Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.40 EPS and FY2018 earnings at $1.64 EPS.

CIEN has been the subject of a number of other reports. BMO Capital Markets reiterated a “buy” rating on shares of Ciena in a research report on Friday, October 27th. Stifel Nicolaus restated a “buy” rating on shares of Ciena in a report on Friday, November 3rd. Nomura lowered their price target on shares of Ciena from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, September 1st. MKM Partners reiterated a “buy” rating on shares of Ciena in a report on Thursday, August 31st. Finally, B. Riley reiterated a “buy” rating and set a $34.25 price target on shares of Ciena in a report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.30.

Shares of Ciena (NYSE:CIEN) opened at $21.44 on Wednesday. Ciena has a 12-month low of $19.40 and a 12-month high of $27.98. The firm has a market cap of $3,082.07, a PE ratio of 15.65, a price-to-earnings-growth ratio of 0.85 and a beta of 1.67. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.92.

In related news, VP Andrew C. Petrik sold 1,251 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $21.60, for a total value of $27,021.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $22.17, for a total transaction of $44,340.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,052 shares of company stock worth $1,942,338. 1.45% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CIEN. Capstone Asset Management Co. raised its holdings in Ciena by 1.3% in the second quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 130 shares during the period. Nisa Investment Advisors LLC raised its holdings in Ciena by 1.9% in the second quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock valued at $269,000 after buying an additional 200 shares during the period. Aperio Group LLC grew its position in Ciena by 7.1% in the second quarter. Aperio Group LLC now owns 26,237 shares of the communications equipment provider’s stock valued at $656,000 after acquiring an additional 1,742 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Ciena in the second quarter valued at approximately $159,000. Finally, Strs Ohio grew its position in Ciena by 15.5% in the second quarter. Strs Ohio now owns 19,400 shares of the communications equipment provider’s stock valued at $485,000 after acquiring an additional 2,600 shares in the last quarter.

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About Ciena

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

Earnings History and Estimates for Ciena (NYSE:CIEN)

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